Harness the Power of Relationships: Interview with Lara Abrash, CEO of Deloitte & Touche
I recently went one on one with Lara Abrash. Lara is the CEO of Deloitte’s US Audit & Assurance business.
Adam: Thanks again for taking the time to share your story and your advice. First things first, though, I am sure readers would love to learn more about you. What is something about you that would surprise people?
Lara: Hands down, I’m probably the biggest New York Mets fan there is – that’s right, the New York Mets! This summer, I was able to attend a few games and it brought me so much joy and gratitude to be back in person after a year and a half away. The highlight was catching a foul ball at the first game I attended this year – it’s been added to my Mets memorabilia. Let’s go Mets!
Sports have always been an integral part of my life primarily because I grew up with three older brothers. To this day, I still play first base in a competitive women’s softball league and even manage the team as well. It’s not a significant commitment from an hour’s perspective, but the memories from each season and the comradery with my teammates is something that stays with me all year long.
Adam: How did you get here? What experiences, failures, setbacks, or challenges have been most instrumental to your growth?
Lara: It's been quite a marathon to get here. In middle school, I was lucky to discover what I wanted to be when I ‘grew up’. My class learned how to do the accounting for Firehouse 123. I knew almost immediately that I wanted to be an accountant. In time, I put myself through undergraduate school and received an MBA from Baruch College. That meant leaving my job every day at a small local accounting firm to attend night classes. The train from my mother’s house in Long Island to Manhattan took over an hour and a half each way. I often got home well into the night. My mom helped me “keep my eyes on the prize.” She taught my brothers and me that we could be anything we wanted to be if we worked hard enough. Most significantly, she showed me the importance of dedication and perseverance.
Almost 30 years later, the accounting and audit profession still energizes me. It’s so much more than doing the books and records I learned working on Firehouse 123. It’s about thinking outside the box and making an impact for our people, our clients, and our communities. Each day, I face new challenges that drive me to team with fellow professionals, find innovative solutions for our clients, and continue to learn and grow.
Adam: In your experience, what are the defining qualities of an effective leader?
Lara: It’s all about who you are and the values you promote. For me, three powerful values are essential for all leaders – vulnerability, empathy, and compassion.
Vulnerability takes courage. Intimidating as it may be, openly sharing our fears, thoughts, concerns, and feelings gives us an opportunity to inspire the authenticity we want to encourage in our people and to create connections and build trust.
Empathy is the “Platinum Rule” – treat others the way they want to be treated. Demonstrating empathy gives people the freedom to feel the way they need to feel. And it allows leaders to sense the pulse of their people, and gain a greater appreciation for their hopes, fears, and needs. All so we can move through challenges together.
Compassion is showing people that you genuinely care about them. It requires active listening, understanding, feeling, and then a willingness to be part of the change—not just to require it of others.
Leaders who demonstrate these values will foster an environment that enables their teams to be stronger, more connected, and healthier—physically and emotionally.
Adam: How can leaders and aspiring leaders take their leadership skills to the next level?
Lara: Take care of yourself and take care of others.
My mother always reminds me that you can’t take care of other people unless you take care of yourself first. Prioritizing well-being and self-care is crucial. For some, that may mean working out or practicing healthy eating habits. For me, it’s about doing things that energize me, such as playing in my softball league or having dinner with my family. Find time for those activities that refresh you and inspire others to do the same. Reach out to check in on others. Use your voice to promote well-being and drive equality and inclusiveness with your colleagues and within your communities. When I have a clear mind, it allows me to do my best work and push others to do the same. I’m an optimist at heart and love to push the boundaries in solutioning. I can be the best leader when my well-being tank is filled.
Adam: What are your three best tips applicable to entrepreneurs, executives, and civic leaders?
Lara:
Harness the power of relationships. Relationships are so important in your life and in your career. Each person has unique strengths you can learn from—whether it’s a unique way of communicating and leading, or collaborating, teaming, and lifting others into the spotlight. Regardless of where you are in your career, deepening existing relationships and developing new ones is essential.
Differentiate yourself and be curious. Have a clear vision of where you want to go and identify and nurture the things that uniquely and authentically make you different from others.
Be bold. Own your career and don’t be afraid to take risks. The risks that challenge you the most can help you find and highlight your strengths, and that’s necessary for success.
Adam: What is your best advice on building, leading and managing teams?
Lara: Embrace our amazing differences – whether it is gender identification, race, age, religion, sexual orientation, physical ability, political views, or any other characteristic that shapes our human perspective. And strive to achieve diversity of thought. We know that teams made up of diverse, inclusive professionals are more powerful. At Deloitte, we’ve established our MADE (Making Accounting Diverse and Equitable) commitment, as just one way to create more diversity at Deloitte as well as in the broader accounting and finance communities.
I’ve often analogized my vision of our future to a mosaic that brings together pieces of all shapes, sizes, and colors to form a beautiful picture – one that is brilliant and remarkable because of the differences that complement one another, not despite them. I hope other leaders will join me in helping to realize this vision.
Adam: What is the single best piece of advice you have ever received?
Lara: My mother was my first role model – and a very powerful one. She’s given me advice that has shaped my career and the person I’ve become. She raised me to believe I could be anything I wanted to be. She taught me to dream big but that dreaming isn’t enough—a goal isn’t a goal until you say it out loud. When it comes to achievements, she encouraged me to lay claim to what I do. I’ve taken that advice to heart, and throughout my career, I have shared my goals with people who were able to help. I’ve raised my hand to launch significant, never-before-done initiatives. And these are the achievements that give me the most pride. I encourage others to heed my mother’s advice and dream big, be bold, and take charge of their careers.
Adam: What is one thing everyone should do to pay it forward?
Lara: For me, people are a source of energy. The people I work with daily are the reason I am still at Deloitte. Mentoring and coaching others energizes me, and it’s extremely rewarding when those that I’ve mentored or coached throughout the years succeed or achieve a big career milestone.
I believe that being there for others and really listening can make a powerful impact on someone’s career and life. Never underestimate the power of a small moment to change the way you feel about a day or even your life….and, more importantly, never underestimate how the power of a small moment can change the way another person feels about their day or life.
Adam Mendler is the CEO of The Veloz Group, where he co-founded and oversees ventures across a wide variety of industries. Adam is also the creator and host of the business and leadership podcast Thirty Minute Mentors, where he goes one on one with America's most successful people - Fortune 500 CEOs, founders of household name companies, Hall of Fame and Olympic gold medal winning athletes, political and military leaders - for intimate half-hour conversations each week. Adam has written extensively on leadership, management, entrepreneurship, marketing and sales, having authored over 70 articles published in major media outlets including Forbes, Inc. and HuffPost, and has conducted more than 500 one on one interviews with America’s top leaders through his collective media projects. A top leadership speaker, Adam draws upon his insights building and leading businesses and interviewing hundreds of America's top leaders as a top keynote speaker to businesses, universities and non-profit organizations.
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